Faroe Islands Remittances
Personal remittances received, current US dollars.
Remittances in Faroe Islands increased to 0.16 USD billion in 2011 from 0.15 USD billion in 2010.
Faroe Islands Remittances — History
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Faroe Islands Remittances — analysis in simple words
Latest reading
Remittances in Faroe Islands increased to 0.16 USD billion in 2011 from 0.15 USD billion in 2010.
It has risen in each of the last three years.
Recent trend
A year earlier (2010) it was $0.15B, so the latest figure is $0.01B higher.
Over the past five years the average was $0.14B, with a range from $0.11B to $0.16B. The latest value is above that five-year average.
Historical context
This data series starts in 1998 and has 14 annual observations. The latest reading is higher than 93% of all of them.
The highest value on record is $0.16B (2011) and the lowest is $0.04B (2001). The long-run average is $0.08B.
Statistics
- Latest
- $0.16B2011
- Previous
- $0.15B
- 5-year average
- $0.14B
- Long-run average
- $0.08Bsince 1998
- All-time high
- $0.16B2011
- All-time low
- $0.04B2001
- Observations
- 14Annual
Recent Data
| Period | Value | Change |
|---|---|---|
| 2011 | $0.16B | ▲ +0.01 |
| 2010 | $0.15B | ▲ +0.01 |
| 2009 | $0.14B | ▲ +0.00 |
| 2008 | $0.14B | ▲ +0.03 |
| 2007 | $0.11B | ▲ +0.02 |
| 2006 | $0.09B | ▲ +0.01 |
| 2005 | $0.08B | ▲ +0.03 |
| 2004 | $0.05B | ▲ +0.00 |
| 2003 | $0.04B | ▲ +0.00 |
| 2002 | $0.04B | ▲ +0.00 |
| 2001 | $0.04B | ▼ −0.00 |
| 2000 | $0.04B | ▼ −0.01 |
| 1999 | $0.05B | ▲ +0.00 |
| 1998 | $0.05B |
Remittances — Faroe Islands vs Peers
Latest available reading for each economy (periods may differ). Faroe Islands highlighted.
More Faroe Islands indicators
Understanding Remittances — a simple guide
What it measures
Personal remittances received from workers abroad, in current US dollars.
How it is calculated
Money sent home by citizens working abroad, in US dollars.
Workers in the Gulf sending money to families in India are counted here.
High remittances support household income and the current account.
Low remittances mean less income from abroad.
Why it matters for the economy and markets
Remittances are a large and stable source of foreign income for many emerging economies.
How to read it
They tend to be counter-cyclical, rising when the home economy is under stress.
Data source
World Bank — World Development Indicators (series BX.TRF.PWKR.CD.DT), annual data from 1998 to 2011. Values are shown exactly as published by the source and may be revised later.
How to use the chart
Use the 5Y / 10Y / 25Y / Max buttons to change the time range, or drag the slider under the chart. Hover (or tap) on the line to see the exact value for any period. Dashed lines and hatched bars are IMF projections, not actual data. The “Download CSV” button gives you the full data series.
Frequently asked questions
What is the current remittances of Faroe Islands?
What is the highest and lowest remittances of Faroe Islands?
What does remittances measure?
Data are sourced from official international organisations (IMF, World Bank, BIS) and national authorities, and are shown for educational and informational purposes only. They are not investment advice and no recommendation is made. Figures may be revised by the source; IMF figures for the current and future years are projections. This page was last updated on Saturday, October 17, 2026.